The following information is given to you relating to the operations of PrincehallCorporation: The income tax rate is 40%. Net sales $11,862 Cost of sales 8,321 Gross margin ? Selling, general, and administrative expenses $ 2,743 Depreciation, amortization, and asset write-offs 278 Total operating expenses: ? Income from operations : ? Interest expense 91 Interest and other income
The following information is given to you relating to the operations of PrincehallCorporation:
The income tax rate is 40%.
Net sales $11,862
Cost of sales 8,321
Gross margin ?
Selling, general, and administrative expenses $ 2,743
Total operating expenses: ?
Income from operations : ?
Interest expense 91
Interest and other income 11
Earnings before income taxes: ?
Income taxes ?
Net earnings: ?
Calculate the Gross Margin
Determine the total operating expenses:
Calculate the income from operations:
Determine the earnings before taxes
What was the income tax expense?
Determine the net income of the company.
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